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In a certain fund, 40 percent of the money is invested in stocks, and

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In a certain fund, 40 percent of the money is invested in stocks, and  [#permalink]

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New post 23 Oct 2018, 12:19
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  15% (low)

Question Stats:

95% (01:26) correct 5% (04:06) wrong based on 26 sessions

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In a certain fund, 40 percent of the money is invested in stocks, and of that portion,
20 percent is invested in preferred stocks. If the mutual fund has $576 invested in
preferred stocks, what is the total amount of money invested in the fund?

A. $960
B. $1440
C. $2880
D. $4608
E. $7200

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Re: In a certain fund, 40 percent of the money is invested in stocks, and  [#permalink]

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New post 23 Oct 2018, 22:20
pushpitkc wrote:
In a certain fund, 40 percent of the money is invested in stocks, and of that portion,
20 percent is invested in preferred stocks. If the mutual fund has $576 invested in
preferred stocks, what is the total amount of money invested in the fund?

A. $960
B. $1440
C. $2880
D. $4608
E. $7200



Let the total money be x
.4x = in stocks
.2(.4x) = 576
.08x = 576
x = 57600/8 = 7200
E
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Re: In a certain fund, 40 percent of the money is invested in stocks, and  [#permalink]

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New post 23 Oct 2018, 22:36
pushpitkc wrote:
In a certain fund, 40 percent of the money is invested in stocks, and of that portion,
20 percent is invested in preferred stocks. If the mutual fund has $576 invested in
preferred stocks, what is the total amount of money invested in the fund?

A. $960
B. $1440
C. $2880
D. $4608
E. $7200

Let total fund be 100

Amount invested in Stocks = 40
Amount invested in Preferred Stocks is 20% of 40 = 8

So, Value of Total Investments is \(\frac{576}{8}*100 = 7200\), Answer must be (E)
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Re: In a certain fund, 40 percent of the money is invested in stocks, and   [#permalink] 23 Oct 2018, 22:36
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In a certain fund, 40 percent of the money is invested in stocks, and

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